United Bank Inc. cut its position in shares of AT&T Inc. (NYSE:T) by 7.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 163,883 shares of the company’s stock after selling 12,411 shares during the period. AT&T makes up about 3.3% of United Bank Inc.’s investment portfolio, making the stock its 4th largest position. United Bank Inc.’s holdings in AT&T were worth $7,081,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of the stock. Bollard Group LLC boosted its stake in shares of AT&T by 1.1% in the second quarter. Bollard Group LLC now owns 451,190 shares of the company’s stock worth $19,496,000 after buying an additional 4,776 shares during the period. Aviva PLC boosted its stake in shares of AT&T by 5.5% in the first quarter. Aviva PLC now owns 4,540,243 shares of the company’s stock worth $177,841,000 after buying an additional 237,012 shares during the period. Livforsakringsbolaget Skandia Omsesidigt boosted its position in AT&T by 6.2% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 811,263 shares of the company’s stock worth $35,055,000 after buying an additional 47,100 shares during the period. Community Trust & Investment Co. boosted its position in AT&T by 1.8% in the second quarter. Community Trust & Investment Co. now owns 516,263 shares of the company’s stock worth $22,307,000 after buying an additional 9,126 shares during the period. Finally, Logan Capital Management Inc. boosted its position in AT&T by 0.3% in the first quarter. Logan Capital Management Inc. now owns 736,564 shares of the company’s stock worth $28,851,000 after buying an additional 2,079 shares during the period. Institutional investors and hedge funds own 53.62% of the company’s stock.
Shares of AT&T Inc. (NYSE:T) traded up 0.13% on Monday, reaching $39.27. 13,885,020 shares of the company’s stock traded hands. The firm’s 50-day moving average is $40.29 and its 200-day moving average is $40.53. The stock has a market cap of $241.59 billion, a price-to-earnings ratio of 16.93 and a beta of 0.30. AT&T Inc. has a 52-week low of $32.22 and a 52-week high of $43.89.
AT&T (NYSE:T) last issued its earnings results on Thursday, July 21st. The company reported $0.72 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.72. AT&T had a net margin of 8.76% and a return on equity of 13.93%. The firm earned $40.50 billion during the quarter, compared to analyst estimates of $40.75 billion. Analysts anticipate that AT&T Inc. will post $2.86 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Monday, October 10th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.89%. AT&T’s dividend payout ratio is 83.12%.
T has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of AT&T from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research report on Wednesday, June 29th. Deutsche Bank AG increased their price objective on shares of AT&T from $41.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, June 28th. Barclays PLC initiated coverage on shares of AT&T in a research report on Monday, June 27th. They set a “buy” rating on the stock. Jefferies Group reissued a “buy” rating and set a $44.00 price objective on shares of AT&T in a research report on Thursday, July 21st. Finally, Wells Fargo & Co. reissued a “buy” rating on shares of AT&T in a research report on Friday, July 22nd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $41.86.
In related news, CEO John T. Stankey sold 2,131 shares of the company’s stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $43.38, for a total transaction of $92,442.78. Following the completion of the transaction, the chief executive officer now owns 13,583 shares in the company, valued at $589,230.54. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.07% of the company’s stock.
AT&T Company Profile
AT&T Inc is a holding company. The Company offers communications and digital entertainment services in the United States and the world. It operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Business Solutions segment includes various categories, including wireless service, fixed strategic services, legacy voice and data services, other services and wireless equipment.